There’s truly an art to negotiating your salary – especially as a new hire. Experience, the type of job, and other factors play a role, but gold old-fashioned negotiating skills matter too.
We’ve asked a few professors for their take on to increase your new-hire pay.
Do your research
Before entering the negotiation process, find out what salary and compensation package is considered competitive for this particular role in the market/industry.
“This information can be found via online sites or by asking current or past employees of the organization and should take in consideration the region of the country and cost of living,” says Suzanne Rohan Jones, adjunct professor in the online Bachelor of Psychology program at Maryville University in St. Louis, Missouri.
Make your case
Jones says to articulate what acquired skills, experience, and applicable personal and professional traits make you stand out from other hires. In this matter, you express your worth.
“In order to justify a higher salary or larger compensation package, the employer will need to recognize that you bring more to the position than their typical new hire,” she continues.
Be calm, confident and professional during the salary negotiation process. This manner that this exchange is handled sets the stage for the relationship between employer and employee. Jones says to know upfront what your ideal, realistic and basic salary and compensation packages are and whether you are willing to decline the job offer if you are presented with a non-negotiable, unfair offer given your research of comparable salaries in the market/industry.
Boast both academic and real-world experience
If you’ve worked in a director-level or higher position, use your interview to incorporate your first-hand experience into the conversation, says Kari Whaley, Ed.D., from the Entertainment Business Masters Program at Full Sail University in Florida.
“Demonstrating that you have more than just academic knowledge does a long way,” Whaley says. “When you can couple a strong academic record with relevant work experience, you become a greater asset to the department, and it strengthens your ability to ask for a higher salary.”
Consider non-monetary benefits
If the employer is unable to offer you a higher salary, Jones suggests that you consider other types of compensation. Especially for new hires without a great deal of prior experience in the field, she says other perks may be bargaining chips.
“It may be possible to negotiate additional vacation days, professional development opportunities or conference attendance, telecommuting or flex time on certain days, or capacity for additional responsibilities or promotion,” she adds.
These extras may be worth more than money in your paycheck.